Mark Caserta: Progressivism extracts a price from middle class

31 Jul

middle class

Jul. 31, 2014 @ 12:00 AM

Not unlike an accomplished illusionist who deceives the mind into believing something that is not true, the Obama administration and liberal abettors are using smoke and mirrors to fool Americans into believing our economy is trending in the right direction.

In the fourth of my series exposing the stratagem of the progressive movement in our society, we’ll look at how liberals leverage auspicious economic metrics to obscure our nation’s troubling long-term economic outlook.

Let’s begin by examining how liberal media outlets exploit the U.S. stock market to espouse economic success for the Obama administration.

The Federal Reserve Board’s Open Market Committee is the single most important federal agency to the stock market. Its action or inaction on interest rates has immediate consequences for investors, and the market tracks and anticipates those actions very carefully.

Now, by law, the Fed must conduct monetary policy to achieve maximum employment, stable prices and moderate, long-term interest rates.

While the three major indexes, the NASDAQ, the Dow and the S&P 500, have all been experiencing consistent gains and record highs, many fail to understand the volatile bubble forming around our economy.

Consider that $1 doesn’t buy as much as it used to in the grocery store. Thanks to inflation, you have to make more money today to be able to buy as much as you did just a few years ago. The same is true for the stock market.

While many believe the Federal Reserve literally prints money, it actually doesn’t. It engages in a creative form of bookkeeping called “quantitative easing,” which provides an illusion of gain and essentially props up the nation’s economy along with investor confidence.

Never in recent economic history have interest rates been so low for so long. I believe the Fed comprehends our economic instability primarily caused by our nation’s unemployment and realizes raising rates would cause this so-called recovery to crumble like the walls of Jericho around us!

But liberals use multiple illusions of grandeur to hide the fact Obama is hurting the very people he promised to liberate.

food stamps

When the government reports the unemployment rate is down to 6.1 percent, remember this represents only those who are available and have actively sought employment over the prior four weeks. Our nation’s true unemployment rate, or total unemployed including those working part-time due to economic conditions, is around 12.9 percent.

While liberals celebrate meager job creation, remember the actual number of Americans participating in the labor force, currently at 67 percent, is the lowest it’s been since 1978. And sadly, according to the Heritage Foundation, nearly 20 percent of households now depend on food assistance from the U.S. government.

It should anger America that Barack Obama built his presidential campaigns on fighting for the middle class, yet the gap between the haves and the have-nots has grown wider than ever.

Under the current administration, America is increasingly moving away from a society that flourishes under self-reliance and personal responsibility and toward one which traps families in a long-term relationship with big government.

Just more fruit of the progressive movement.

Mark Caserta is a conservative blogger, a Cabell County resident and a regular contributor to The Herald-Dispatch editorial page.

2 Responses to “Mark Caserta: Progressivism extracts a price from middle class”

  1. Kendal Rice July 31, 2014 at 2:53 pm #

    your best article to date! I posted this comment on the HD online to confront the usual Progressive radicals and using their own fav sources….

    Add a comment…There is nothing “federal” about the Federal Reserve System. All 12 of its regional banks are privately owned, dividend paying corporations. This is public information despite the Kabuki theatre of the periodic FOMC meetings that are portrayed as a democratic institution protecting the people.

    Its a neo-feudal system of invisible wealth confiscation that is sole cause that minimum wage earning folks cannot sustain a household since their purchasing power is debased year by year.

    This banking cartel is the most undemocratic, unaccountable institution in the nation that is exempt from Congressional oversight. Its the pride and joy of the Progressive Era of elitism, wealth inequality, and the triumph of the one percenters over representative government.

    Huffington Post reports “How the FED bought the Economics Profession”

    http://www.huffingtonpost.com/2009/09/07/priceless-how-the-federal_n_278805.html

    MSNBC reports on the FED scam of 2008 where all their cronies received trillions….Corruption at the FED…

    Fed policies are hollowing out the middle class by replacing full time with part time jobs; last month’s job report showed 800K new part time jobs and the loss of 500K full time jobs. Wall Street cheered on the news that corporate profits will now soar as the working class seeks more food stamps.

    Other outrageous policies of this cartel include placing our pension fund models at risk as they require an 8 per cent yield to achieve their goals.

    Leveraging zero interest rates into massive stock bubbles on stilts that only benefits the top 20% of the people while punishing the purchasing power of the poor.

    Forcing pensions out of bonds and into stocks in a desperate search for yield to maintain solvency

    Forcing Institutional funds from investment grade bonds into junk bonds also seeking higher yield.

    Wall Street has now become a Vegas style casino where all investors have become speculators. And Progressives cheer all the way to the bank.

    Like

    • markacaserta August 1, 2014 at 12:32 am #

      Godspeed brother

      On Thursday, July 31, 2014, Free State Patriot wrote:

      >

      Like

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